tsptalk's Market Talk

[RealMoneyIssues]

Just how many times are they going to save the EURO? I don't know about the rest of the world but it's becoming unbelievable to me. WOLFE! View attachment 19722

Makes it easy to manipulate the market, short term...

 

[bmneveu]

Futures up big on the ECB saving euro talk, yada yada.. Jobless claims come out in 10 minutes. That could pump up the gains or wash them completely...

 

[nnuut]

S&P

21.67(1.62%) 9:41AM EDT
The
Market
Is
NNUUTS!
​

 

[tsptalk]

Futures up big on the ECB saving euro talk, yada yada.. Jobless claims come out in 10 minutes. That could pump up the gains or wash them completely...

Looks like the jobless claims finally put in a fair number keeping the "Draghi" rally going this morning. We'll take it.

The jobless claims came in about 30K lighter than expected and 35K lower than last week - a good sign considering the recent trend had been moving higher. Once again, however, they revised the prior week's number up by a couple of thousand. Seems to be a pattern.

More: http://www.briefing.com/investor/calendars/economic/2012/07/23-27

 

[tsptalk]

S&P

21.67(1.62%) 9:41AM EDT
The
Market
Is
NNUUTS!
View attachment 19727​

What happened to the summer doldrums?

 

[wavecoder]

nice rally so far, but I'm staying on the sidelines. the past 2 months have been sideways slop, I usually don't make a move until a trend becomes clear to me. GL to all

 

[RealMoneyIssues]

Looks like the jobless claims finally put in a fair number keeping the "Draghi" rally going this morning. We'll take it.

The jobless claims came in about 30K lighter than expected and 35K lower than last week - a good sign considering the recent trend had been moving higher. Once again, however, they revised the prior week's number up by a couple of thousand. Seems to be a pattern.

More: Economic - Week of July 23 - July 27

Looks like a lot of folks are not taking this rally seriously. Slowly dying and volume is horrible...

 

[tsptalk]

nice rally so far, but I'm staying on the sidelines. the past 2 months have been sideways slop, I usually don't make a move until a trend becomes clear to me. GL to all

Agree - no trend, but a nice little trading range to trade. Until the lower support breaks, which I think is possible in August, tests can probably be bought - and resistance sold.

 

[wavecoder]

Agree - no trend, but a nice little trading range to trade. Until the lower support breaks, which I think is possible in August, tests can probably be bought - and resistance sold.

True. when it comes to stock trading, I trade the dips at the bottom of channels, but with the TSP I always stay on the careful side. The IFT delay has you locked in for 2 days at least, there's no stop orders if you guessed wrong haha. But for those who jumped in on the current rally, they made a good return no doubt. It's too bad we're limited to 2 transactions a month lol.

@RealMoneyIssues - I would expect more volume on this type of rally, seems there's a lot of indecision in the market atm, probably why it can't make up its mind which way it wants to go

 

[wavecoder]

facebook getting slammed a/h, under $25 now. for some reason this makes me smile lol

 

[jkenjohnson]

facebook getting slammed a/h, under $25 now. for some reason this makes me smile lol

Would it have anything to do with his arrogance or possible theft of the Facebook idea?

 

[tsptalk]

The Nasdaq gap has been filled. The Russell 2000 (small caps) is still slightly open.

Just a reminder that the last 8 Mondays have been negative. I don't know how long a streak like that can last. I would be surprised if we've ever seen one much longer.

 

[tsptalk]

The Dow just touched 13,000 and is flirting with the top of its range. Breakout - or sell?

 

[tsptalk]

I decided to sell this TNA, even though the end of July has strong seasonality. I'm concerned about seeing a late Friday sell-off because of that streak of 8 negative Mondays. Monday may not be negative, but you'd think investors itching to sell late today (Friday) just in case. I'll take the 7.5% gain and run.

I nibbled on some TNA this morning hoping support holds and we see some kind of attempt to fill the open gap. It's a small position with a stop a little below support...

 

[nnuut]

Turn Around Tuesday?
Economic Calendar - Bloomberg
2-Yr Note Settlement

5-Yr Note Settlement

7-Yr Note Settlement

10 Yr TIPS Settlement

FOMC Meeting Begins

ICSC-Goldman Store Sales
7:45 AM ET

Personal Income and Outlays
8:30 AM ET

Employment Cost Index
8:30 AM ET

Redbook
8:55 AM ET

S&P Case-Shiller HPI
9:00 AM ET

Chicago PMI
9:45 AM ET

Consumer Confidence
10:00 AM ET

State Street Investor Confidence Index
10:00 AM ET

4-Week Bill Auction
11:30 AM ET

Farm Prices
3:00 PM ET

 

[mayday]

I decided to sell this TNA, even though the end of July has strong seasonality. I'm concerned about seeing a late Friday sell-off because of that streak of 8 negative Mondays. Monday may not be negative, but you'd think investors itching to sell late today (Friday) just in case. I'll take the 7.5% gain and run.

I think you made a wise choice.

 

[wavecoder]

dang this market is going nuts. my tsp account missed out on it but my individual stocks are doing good. win some, lose some lol.

 

[tsptalk]

Can the dollar fill the overhead gap despite the increased talk of QE3? The recent sell-off in the dollar was directly related to the strength in the euro based on the "whatever it takes" speech from Draghy and the possibility of QE3 with continuing economic data.

Small caps are close to filling the open gap above 800 and it is close to testing its descending resistance.

 

[tsptalk]

I lost count: Is that 9 negative Mondays in a row?

 

[Birchtree]

Goes all the way back 36 years.